Unique gifts up for auction

Wednesday

Nov 28, 2012 at 11:58 AMNov 28, 2012 at 12:00 PM

Cynthia Grau

State Treasurer Dan Rutherford stopped by his office in Pontiac Monday to let people know his office is offering the fourth Illinois Treasurer’s Online Unclaimed Property Auction, which began Monday and runs through Friday.Rutherford said there are many interesting items up for bids.“There’s a 1964 Beatles guitar pick pin that’s appraised at $250, now that’s not the most expensive but it’s perhaps one of the more unique items. There’s a book called “The Mick,” which is autographed by Mickey Mantle, which was appraised at $50. That’s not a high priced item, but if you happen to be a fanatic of sports memorabilia, a Mickey Mantle signature book is a good thing. There’s a platinum ring with a one-carat diamond in it, which is appraised at $3,000,” Rutherford described.One might wonder what happens if the items are sold at auction, only to have the original owners come later to claim them.“We have gone through putting the names of these people and the last known holder in the newspaper, the Internet website, direct mail. We’ve done what we think is the most exhaustive opportunity, but if for some reason, the item is sold and in the future the rightful owner or their estate does come forward, they’ll get the cash value it was sold for,” he said.The auctions have brought back millions of dollars to the citizens of Illinois during the past few years.“In 2011, we returned $101 million total. It is my desire to have that goal exceeded in 2012 and we will exceed that. That means more than $100 million has gone back into the purses and wallets of the people of Illinois that didn’t even know it was coming, which I think is a huge economic stimulus opportunity,” Rutherford said, adding that the largest return in the state of Illinois was for $8.1 million to one company in September. To bid on the items, visit www.treasurer.il.gov and click on the auction preview. Buyers are responsible for purchasing their auction winnings with either Visa or MasterCard, but other arrangements can be made for purchases higher than $10,000. In addition, a 2 percent administrative fee will be assessed. Buyers are also required to pay for shipping through the preferred list of shippers.All items have been appraised by an outside vendor and the sale price of each lot must reach 75 percent of the appraised value.